Defers plans for rights issue of up to Rs 35 crore
Wintac announced that the Company had obtained the Shareholders approval through Postal Ballot on 05 July 2014 for issue of shares on Rights Issue basis upto Rs.35 crore and accordingly had obtained in-principle approval from the Stock Exchange.The company had filed the Offer Document with SEBI and had received the observations dated 12 January 2015 and was valid for a period of 12 months from the date of the issuance of the observations.
Further the Company has informed that the validity period of the SEBI Observation letter has lapsed and the Company is not pursuing the rights issue proposal for the time being due to change in its Plan for expansion of manufacturing capacities immediately.
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